I am mending my credit in hopes of getting a mortgage loan next year and I have 2 accounts from MS Higher Ed that are reporting 120 days late as of Dec 2005/Jan 2006. I have refinanced these loans with another lender but did not make payments while the refi was in process. I asked the the original loan holder for a forebearence back in Aug (right before Katrina hit), In Sept/Oct they repond no so that's when I started the refi process. Is there any way to get these lines to report pd as agreed now that they have been pd-refinance with a new lender?
TIA
Full Version: Is there any hope?
Probably not. They are required to to report accurately.
QUOTE(LynnInMN @ May 1 2006, 09:36 PM) 
Probably not. They are required to to report accurately.
Do you happen to know the statute that requires this? I've been looking for it and can't find it.
QUOTE(OU8122 @ May 31 2006, 10:16 PM)
QUOTE(LynnInMN @ May 1 2006, 09:36 PM)
Probably not. They are required to to report accurately.
Do you happen to know the statute that requires this? I've been looking for it and can't find it.
I believe it is the FCRA that requires them to report accurately. It is policy that that they do not alter credit reports. You are asking them to report you as paid as agreed when in fact you did not. Sounds like you were in default which would be even more reason.
QUOTE(LynnInMN @ Jun 1 2006, 12:03 AM)
QUOTE(OU8122 @ May 31 2006, 10:16 PM)
QUOTE(LynnInMN @ May 1 2006, 09:36 PM)
Probably not. They are required to to report accurately.
Do you happen to know the statute that requires this? I've been looking for it and can't find it.
I believe it is the FCRA that requires them to report accurately. It is policy that that they do not alter credit reports. You are asking them to report you as paid as agreed when in fact you did not. Sounds like you were in default which would be even more reason.
The FCRA compels them to report accurately, but it doesn't compel them to report.
QUOTE(OU8122 @ Jun 5 2006, 03:14 PM)
QUOTE(LynnInMN @ Jun 1 2006, 12:03 AM)
QUOTE(OU8122 @ May 31 2006, 10:16 PM)
QUOTE(LynnInMN @ May 1 2006, 09:36 PM)
Probably not. They are required to to report accurately.
Do you happen to know the statute that requires this? I've been looking for it and can't find it.
I believe it is the FCRA that requires them to report accurately. It is policy that that they do not alter credit reports. You are asking them to report you as paid as agreed when in fact you did not. Sounds like you were in default which would be even more reason.
The FCRA compels them to report accurately, but it doesn't compel them to report.
It is policy to report. You are not going to change that.
QUOTE(LynnInMN @ Jun 5 2006, 04:35 PM)
QUOTE(OU8122 @ Jun 5 2006, 03:14 PM)
QUOTE(LynnInMN @ Jun 1 2006, 12:03 AM)
QUOTE(OU8122 @ May 31 2006, 10:16 PM)
QUOTE(LynnInMN @ May 1 2006, 09:36 PM)
Probably not. They are required to to report accurately.
Do you happen to know the statute that requires this? I've been looking for it and can't find it.
I believe it is the FCRA that requires them to report accurately. It is policy that that they do not alter credit reports. You are asking them to report you as paid as agreed when in fact you did not. Sounds like you were in default which would be even more reason.
The FCRA compels them to report accurately, but it doesn't compel them to report.
It is policy to report. You are not going to change that.
QUOTE(OU8122 @ Jun 5 2006, 04:48 PM)
QUOTE(LynnInMN @ Jun 5 2006, 04:35 PM)
QUOTE(OU8122 @ Jun 5 2006, 03:14 PM)
QUOTE(LynnInMN @ Jun 1 2006, 12:03 AM)
QUOTE(OU8122 @ May 31 2006, 10:16 PM)
QUOTE(LynnInMN @ May 1 2006, 09:36 PM)
Probably not. They are required to to report accurately.
Do you happen to know the statute that requires this? I've been looking for it and can't find it.
I believe it is the FCRA that requires them to report accurately. It is policy that that they do not alter credit reports. You are asking them to report you as paid as agreed when in fact you did not. Sounds like you were in default which would be even more reason.
The FCRA compels them to report accurately, but it doesn't compel them to report.
It is policy to report. You are not going to change that.
Yes, I gree with what you've said--it is DOE policy to report, and they will follow policy; however, it is not law that they have to report, only that they report accurately. DOE will tell you that it is federal law under FCRA that they report all information, but that's not what the law says.
When you are talking to DOE reps, they know little or nothing about credit reporting. They have nothing to do with it as credit reporting is an IT function off the data tapes. They are told that it is law to report accurately...deleting or omitting a reporting is not reporting accurately per your prom note.
No, they weren't paid as agreed and they will not update to reflect inaccurate information. Sorry.
I often read that they never change SL reporting but I think it is strictly a YMMV kinda thing.
Possibly, more often than not, they don't change it but I definitely have had luck with getting changes to the pmt history on my SLs.
Possibly, more often than not, they don't change it but I definitely have had luck with getting changes to the pmt history on my SLs.
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